Can I use a Max model with V-ray materials in Blender without too much trouble?
You can use a model from other application if the the model's file is in OBJ, FBX,Dae or ABC. If the model is in 3DS Format, which is a 3Ds Max format you can't use it unless you find a way to change the format (OBJ, FBX,Dae or ABC).
For the Materials, you need to make everything again with Blender Materials. As far as i know.